As Priceline (PCLN) Valuation Rose, Wedgewood Partners INC Has Trimmed Its Holding by $50.35 Million

November 15, 2017 - By Louis Casey

Investors sentiment increased to 1.06 in Q2 2017. Its up 0.05, from 1.01 in 2017Q1. It is positive, as 62 investors sold PCLN shares while 321 reduced holdings. 96 funds opened positions while 311 raised stakes. 45.36 million shares or 2.62% less from 46.57 million shares in 2017Q1 were reported. Bessemer Gru has invested 2.38% in Priceline Group Inc (NASDAQ:PCLN). Arcadia Management Mi stated it has 0.4% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Boston Common Asset Management Ltd reported 0.82% stake. Burt Wealth Advisors invested 0.06% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Wedgewood Prns stated it has 119,701 shares or 6.86% of all its holdings. Germany-based Dekabank Deutsche Girozentrale has invested 0.37% in Priceline Group Inc (NASDAQ:PCLN). Bedrijfstakpensioenfonds Voor De Media Pno holds 10,903 shares or 2.41% of its portfolio. State Board Of Administration Of Florida Retirement Systems invested in 71,631 shares or 0.38% of the stock. Whitnell And reported 0.01% stake. Whittier Tru Of Nevada owns 0% invested in Priceline Group Inc (NASDAQ:PCLN) for 22 shares. Paradigm Asset Management Limited reported 0% in Priceline Group Inc (NASDAQ:PCLN). Tiger Mngmt Ltd Limited Liability Company reported 1.04 million shares. Mutual Of America Capital Mgmt Limited Company accumulated 5,990 shares. Employees Retirement Association Of Colorado has invested 0.88% in Priceline Group Inc (NASDAQ:PCLN). Adams Diversified Equity Fund reported 1.09% stake.

Since May 30, 2017, it had 0 insider buys, and 2 selling transactions for $3.01 million activity. Another trade for 122 shares valued at $221,308 was sold by Tans Gillian.

Wedgewood Partners Inc decreased its stake in Priceline (PCLN) by 18.36% based on its latest 2017Q2 regulatory filing with the SEC. Wedgewood Partners Inc sold 26,927 shares as the company’s stock rose 10.44% with the market. The institutional investor held 119,701 shares of the business services company at the end of 2017Q2, valued at $223.90M, down from 146,628 at the end of the previous reported quarter. Wedgewood Partners Inc who had been investing in Priceline for a number of months, seems to be less bullish one the $84.21B market cap company. The stock declined 0.18% or $3.07 reaching $1716.43 per share. About 1,628 shares traded. Priceline Group Inc (NASDAQ:PCLN) has risen 44.63% since November 15, 2016 and is uptrending. It has outperformed by 27.93% the S&P500.

Wedgewood Partners Inc, which manages about $5.30B and $3.27B US Long portfolio, upped its stake in Celgene Corp (NASDAQ:CELG) by 607,402 shares to 799,402 shares, valued at $103.82M in 2017Q2, according to the filing.

Analysts expect Priceline Group Inc (NASDAQ:PCLN) to report $14.24 EPS on February, 26.They anticipate $0.03 EPS change or 0.21 % from last quarter’s $14.21 EPS. PCLN’s profit would be $698.64 million giving it 30.09 P/E if the $14.24 EPS is correct. After having $35.22 EPS previously, Priceline Group Inc’s analysts see -59.57 % EPS growth.

More notable recent Priceline Group Inc (NASDAQ:PCLN) news were published by: Bloomberg.com which released: “Priceline Group Falls After Profit Forecast Misses Estimates” on November 06, 2017, also Nasdaq.com with their article: “Relative Strength Alert For Priceline Group” published on November 07, 2017, Seekingalpha.com published: “Priceline lower after guidance disappoints” on November 06, 2017. More interesting news about Priceline Group Inc (NASDAQ:PCLN) were released by: Investorplace.com and their article: “Anemic Quant Score Drop Priceline Group (PCLN) to Sell” published on November 13, 2017 as well as Nasdaq.com‘s news article titled: “Tesco Pension Investment Ltd Buys S&P Global Inc, The Priceline Group Inc, Yum …” with publication date: October 19, 2017.

Priceline Group Inc (NASDAQ:PCLN) Ratings Coverage

Among 31 analysts covering Priceline.com (NASDAQ:PCLN), 25 have Buy rating, 0 Sell and 6 Hold. Therefore 81% are positive. Priceline.com had 93 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, November 7. Barclays Capital upgraded it to “Overweight” rating and $1500 target in Wednesday, June 22 report. The firm earned “Strong-Buy” rating on Wednesday, September 2 by Vetr. Susquehanna initiated the shares of PCLN in report on Thursday, October 20 with “Positive” rating. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Buy” rating by Needham on Wednesday, January 4. The stock of Priceline Group Inc (NASDAQ:PCLN) has “Buy” rating given on Tuesday, March 8 by Moffett Nathanson. The company was maintained on Wednesday, August 9 by Credit Suisse. The stock has “Buy” rating by Citigroup on Tuesday, January 10. RBC Capital Markets maintained Priceline Group Inc (NASDAQ:PCLN) on Friday, October 7 with “Outperform” rating. The rating was maintained by Piper Jaffray on Friday, August 5 with “Overweight”.

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